Wednesday, July 11, 2012

To Mitt Romney Apologists Having Blind Investments is The Same Thing as Hiding Money in Switzerland and The Cayman Islands

The book cover is related to this essay at The Root, How Did Blacks Travel During Segregation? - The Negro Motorist Green Book was helpful for navigating Jim Crow America.

To Mitt Romney Apologists Having Blind Investments is The Same Thing as Hiding Money in Switzerland and The Cayman Islands

Mitt Romney and his right-wing media allies appear to be going into full-panic mode over the Obama campaign's increasingly successful efforts to define Romney as a hopelessly out-of-touch multimillionaire.

Obama is leading in swing states where the president's campaign and pro-Obama super PAC Priorities USA have run ads attacking Romney's record as a corporate predator who put Americans out of work by sucking the life out of their companies and sending their jobs overseas.

    [I]n toss-up states, 16 percent say Bain is a reason to support Romney, while 32 percent say it's a reason to oppose him. More people have an opinion on Romney's business record, too. In February, 36 percent said Romney cut jobs while 32 percent said he created them. Now 40 percent say he cut them and 36 percent say he created them.

Today, Romney began hitting back against the Obama attacks. Well, "hitting back" might be too strong a term.  "Nanny-nanny boo boo" is more accurate:

    No you’re the “outsourcer-in-chief.”

    In what has become a signature move for Mitt Romney, Republicans are trying to rebut attacks against their nominee by accusing President Obama of doing the exact same thing. Or something vaguely related to it.

The substance (for want of a better term) of the Romney counter-slap is his claim that money from the American Recovery Act allegedly went to companies that employed some foreign workers. 

In addition to the candidate's pushback, at least one right-wing media outlet is trying to help Romney deflect criticism of his personal finances, including questions about his unreleased tax returns, and the vast sums of money he is reported to have hidden away in tax havens such as Bermuda and Switzerland. 

The Weekly Standard is out with a report that it apparently hopes will expose Rep. Debbie Wasserman Shultz as a hypocrite for demanding that Romney come clean about his finances.  The website's scoop: that the DNC chair has some of her own money invested in "Swiss Banks, Foreign Drug Companies, and the State Bank of India:"

    But disclosure forms reveal that in 2010, Wasserman Schultz invested between $1,001-$15,000 in a 401k retirement fund run by Davis Financial Fund. As the fund discloses, it is invested in the Julius Baer Group Ltd. and the State Bank of India GDR Ltd., as well as other financial, insurance, bank institutions.

The report does not appear to be a satire. The Weekly Standard is seriously suggesting there is an equivalence between a few thousand dollars in a managed 401k and hundreds of millions of dollars shielded from U.S. taxes in Swiss bank accounts and offshore shell corporations.

This panicked, flailing reaction tells you everything need to know about the narrative Obama is crafting against Romney:  it's working.


Right on cue, the wingnut blogosphere is all, "Yeah, so THERE!!1!"

PJ Tatler:

    If overseas investments are “toxic” for Romney, they’re also toxic for the Democrat Party chairman hand-picked for that role by President Barack Obama.

Daily Caller (Jim Treacher):

    Overseas investments are bad except when they’re not. And one way to tell they’re okay is when they’re made by Democrats.

    Oh, and DWS won’t release her tax returns, either. Again: she’s a Democrat. The same standard doesn’t apply to her. Duh.

These right-wing Anti-American nitwits want everyone to believe that Mitt Romney is a financial genius that knows what he is doing - that means he knows that hiding funds in Switzerland and the Cayman Islands is very different from the people who handle your 401k have a diversity of investments. Hiding money versus investments. See how simple that is. If they were the same thing we would use the same WORDS to describe them. When the average person puts money into their 401k do they think they are hiding money in foreign accounts.

Memo to Republicans... Entrepreneurship is Actually Declining Thanks to Policies Like Yours

Mitt Romney or Mr Morality, lied about leaving Bain in 1999